– Periodic Inventory Valuation
In a periodic inventory valuation, goods reception and outgoing shipments have no direct impact in the accounting. At the end of the month or year, the accountant posts one journal entry representing the value of the physical inventory.
– Perpetual Inventory Valuation
In a perpetual inventory valuation, goods receptions and outgoing shipments are posted in your books in real time. The books are therefore always up-to-date. This mode is dedicated to expert accountants and advanced users only. As opposed to periodic valuation, it requires some extra configuration & testing.
- Accounts Receivable/Payable: defined on the partner (Accounting tab)
- Deferred Tax Assets/Liabilities: defined on the tax used on the invoice line
- Revenues/Expenses: defined by default on product’s internal category; can be also set in product form (Accounting tab) as a replacement value.
- Inventory Variations: to set as Stock Input/ Output Account in product’s internal category
- Inventory: to set as Stock Valuation Account in product’s internal category